GMTUSDT is testing the key level!
GMTUSDT is characterized by a double top formation on the 0.42$ area, which resulted in a false breakout.
Currently, the market is testing the 0.5 Fibonacci level, which has now become a new resistance level . Additionally, there is a 4-hour support level at the 0.36$ area that the price is testing.
If the price fails to hold the current support level and begins to move downward, it could potentially grab new liquidity from the original demand zone on the 0.31$ area. According to Plancton's Academy Rules, this could signal a new short position.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
Currently, the market is testing the 0.5 Fibonacci level, which has now become a new resistance level . Additionally, there is a 4-hour support level at the 0.36$ area that the price is testing.
If the price fails to hold the current support level and begins to move downward, it could potentially grab new liquidity from the original demand zone on the 0.31$ area. According to Plancton's Academy Rules, this could signal a new short position.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
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